By Chris Zoller, Ohio State University Extension educator, ANR, Tuscarawas County
Housed in the U.S. Department of Agriculture (USDA), the Farm Service Agency (FSA) provides loan opportunities for agricultural producers. Microloans were developed for and are available to better serve the unique financial needs of new, niche, and small to mid-sized farm operations.
There are two types of microloans available through FSA: Farm Operating Loans and Farm Ownership Loans. Specifics about each are provided below.
Operating microloans can be used for all approved operating expenses, including but not limited to: start-up expenses; annual expenses such as seed, fertilizer, utilities, land rent, marketing costs, family living expenses, purchase of livestock or equipment, minor improvement costs, hoop houses, tools, irrigation, and delivery vehicles.
Ownership microloans can be used for FSA Farm Ownership Loan approved expenses, such as the purchase of land or a farm, construction of new buildings, improvements to existing buildings, pay closing costs, and implement conservation practices.… Continue reading Read More »